A Historic Rebound for the Housing MarketPending Home Sales increased by 44.3% in May, registering the highest month-over-month gain in the index since the National Association of Realtors;(
5 Reasons You Should Sell Your NJ Home This Fall
The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows buyer demand remains very strong throughout the vast majority of the country. Buyers are ready, willing and able to purchase…and in the market right now! In fact, more often than not, multiple buyers end up competing with each other to buy the same homes. Take advantage of the buyer activity currently in the market.
Housing inventory remains under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. That’s good news for homeowners who gained equity as their home values increased. However, additional inventory could be hitting the market soon!
Historically, a homeowner stayed in his or her home for an average of six years, but that number has hovered between nine and ten years since 2011. Many homeowners now possess a pent-up desire to move as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move. The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.
Today’s competitive environment has forced buyers to do all that they can to stand out from the crowd, including getting pre-approved for their mortgage financing. This makes the entire selling process much faster and much simpler as buyers know exactly what they can afford before home shopping. According to Ellie Mae’s latest Origination Insights Report, the average time it took to close a loan was 44 days.
There Will Never Be a Better Time to Move Up
Dreaming of a premium or luxury home? Now is the time to move up! The abundance of inventory available in these higher price ranges has created a buyer’s market for anybody looking to purchase these homes. This means that if you’re planning on selling a starter or trade-up home, your home will sell quickly AND you’ll be able to find a premium home to call your own!
According to CoreLogic, prices are projected to appreciate by 5.1% over the next year. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.
It’s Time to Move on With Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you feel you should?
Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire.
Team Nest Builder knows that is what is truly important. Contact Team Nest Builder’s Lynn Garafola at 973-222-3777 today to start your home-selling process! Want to know in an instant what your home is worth today? Click HERE!
Latest Blog Posts
Real Estate Tops Best Investment Poll for 7th Year RunningEvery year, Gallup conducts a survey of Americans to determine their choice for the best long-term investment.